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Hanover Retail Plaza Sold For $1.6M

Jun 26, 2009 | Reprints | Unlock Link | Print

On behalf of owner, Hanover Shop Realty Trust, The Conrad Group Inc. recently negotiated the sale of 333 Columbia Road in Hanover for $1.6 million.

Located on Route 53 near the intersection of Broadway and Columbia Road, the 14,000-square-foot plaza was built in the 1980s.

Present tenants include Mama Mia’s Pizza, Great Cuts, Tanning Plus and Dance Essentials. The new buyer plans to make some cosmetic renovations to the property this summer, according to The Conrad Group.

"This asset is highly desirable due to its excellent visibility and tenant mix," said Dan Waldman, vice president of The Conrad Group. "The new buyer owns other properties in the area and has an excellent reputation in the town of Hanover."

Waldman spearheaded the transaction and represented both parties. The name of the buyer was not disclosed.

Commercial & Industrial